Mr Kwabena Boateng, Deputy Managing Director of Fidelity Bank in charge of Wholesale Banking, has urged financial sector stakeholders to move from lending to “active partnership” to support economic growth.
Speaking at the 14th Ghana Economic Forum in Accra, he called for increased investment in agriculture and manufacturing as part of measures to stabilise the Cedi.
“What gives a currency its real value is not the paper it’s printed on, or the reserves behind it but the productivity that sustains it.
“The more we invest in the sectors that create value such as agriculture, manufacturing, and exports, the more stable and resilient our currency becomes,” he said.
The forum, organised by the Business and Financial Times (BnFT), was on the theme: “Currency Value Addition – A Reset for Sustainable Economic Growth.”
It brought together government officials, policymakers, private sector leaders, and development partners to deliberate on strategies for sustainable recovery.
Mr. Boateng commended the country’s economic growth in the second quarter of 2025 but emphasised the need to support other sectors.
“The services sector continues to expand rapidly, accounting for over 42 per cent of GDP and receiving 36.8 per cent of all bank credit, while manufacturing attracts just 12.4 per cent and agriculture, despite its vast potential, receives a fraction of that.
“We have a powerful economic vehicle, but the power isn’t distributed evenly to all its wheels,” he noted.
Highlighting Fidelity Bank’s interventions, Mr. Boateng cited the BRIDGE-in-Agriculture Programme, implemented with the Mastercard Foundation, which has disbursed over GH¢94 million to SMEs and smallholder farmers, focusing on youth and women entrepreneurs.
“Combined with direct lending of GH¢220 million this year, Fidelity’s total agricultural support now exceeds GH¢314 million. Beyond finance, the programme provides technical assistance, market access, and training in climate-smart agriculture” he said.
Mr. Boateng also mentioned the Greentech Innovation Challenge, which supports young innovators in addressing agricultural challenges such as precision farming.
“The bank’s GH¢2 million total investment in these green pioneers has already seen the first cohort generate over GH¢13 million in revenue, with some expanding to Nigeria and Sierra Leone, validating the strategy of coupling innovation with patient capital.
“These programmes show that when you combine patient capital with innovation and technical support, you can turn high-risk sectors into high-impact ones,” he noted.
Mr. Boateng urged stronger public–private partnerships to “de-risk the real economy,” promote export-linked financing, and expand access to green and inclusive finance for women and youth entrepreneurs.
He called for accountability mechanisms that measure not only credit volumes but also tangible impact on value creation, exports, and jobs.
“At Fidelity, we do not simply lend; we partner to build. We want to see a Ghana where our currency is strong, our industries vibrant, and our people, especially our youth and women, empowered to create lasting value,” he said.
